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Selected Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information
The following table contains quarterly financial information for 2016 and 2015. The Company believes that the following information reflects all normal recurring adjustments necessary for a fair statement of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period.
 
2016
 
First
Quarter
 
Second
Quarter
 
Third
Quarter *
 
Fourth
Quarter
 
Total
 
(in thousands, except per share data)
Total revenue
$
229

 
$
277

 
$
28,650

 
$
825

 
$
29,981

Total operating expenses
6,779

 
6,769

 
9,120

 
4,447

 
27,115

Income (loss) from operations
(6,550
)
 
(6,492
)
 
19,530

 
(3,622
)
 
2,866

Net income (loss)
(7,574
)
 
(6,491
)
 
19,487

 
(3,531
)
 
1,891

Net income (loss) per share—basic
$
(0.39
)
 
$
(0.33
)
 
$
0.95

 
$
(0.15
)
 
$
0.09

Net income (loss) per share—diluted
$
(0.39
)
 
$
(0.33
)
 
$
0.91

 
$
(0.15
)
 
$
0.09


 
2015
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
Total
 
(in thousands, except per share data)
Total revenue
$
244

 
$
114

 
$
67

 
$
565

 
$
990

Total operating expenses
7,841

 
8,516

 
9,426

 
10,403

 
36,186

Loss from operations
(7,597
)
 
(8,402
)
 
(9,359
)
 
(9,838
)
 
(35,196
)
Net loss
(6,524
)
 
(6,906
)
 
(9,693
)
 
(10,329
)
 
(33,452
)
Net loss per share—basic and diluted
$
(0.36
)
 
$
(0.36
)
 
$
(0.50
)
 
$
(0.53
)
 
$
(1.76
)

* In the third quarter of 2016, the Company recognized revenue of $29.0 million in connection with the License Agreement with Roche. In addition, the Company incurred $2.5 million of transaction costs associated with the Acquisition of Viventia.